Research Analysts Offer Predictions for CoreCivic, Inc.’s Q2 2024 Earnings (NYSE:CXW)

CoreCivic, Inc. (NYSE:CXW) – Research analysts at Wedbush upped their Q2 2024 EPS estimates for shares of CoreCivic in a report released on Monday, April 8th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.36 for the quarter, up from their previous estimate of $0.35. Wedbush currently has a “Outperform” rating and a $19.00 target price on the stock. The consensus estimate for CoreCivic’s current full-year earnings is $1.31 per share. Wedbush also issued estimates for CoreCivic’s FY2025 earnings at $1.84 EPS.

CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The business had revenue of $491.25 million during the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%.

A number of other research firms have also recently commented on CXW. Northland Securities lifted their price objective on shares of CoreCivic from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. StockNews.com lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.

CoreCivic Trading Down 2.2 %

CoreCivic stock opened at $15.38 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50-day simple moving average of $14.98 and a 200 day simple moving average of $13.95. The stock has a market capitalization of $1.72 billion, a P/E ratio of 26.07 and a beta of 0.81. CoreCivic has a 52 week low of $7.84 and a 52 week high of $16.24.

Insider Transactions at CoreCivic

In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the transaction, the chief executive officer now owns 820,262 shares in the company, valued at approximately $11,992,230.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the sale, the executive vice president now owns 186,692 shares of the company’s stock, valued at $2,707,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Damon T. Hininger sold 50,525 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the sale, the chief executive officer now owns 820,262 shares in the company, valued at $11,992,230.44. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Institutional Trading of CoreCivic

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in CoreCivic during the 4th quarter worth approximately $29,000. Criterion Capital Advisors LLC acquired a new position in shares of CoreCivic during the fourth quarter worth $32,000. Quantbot Technologies LP acquired a new stake in shares of CoreCivic during the 1st quarter valued at $36,000. USA Financial Formulas acquired a new position in CoreCivic in the 4th quarter worth about $69,000. Finally, UBS Group AG increased its holdings in CoreCivic by 110.6% in the 2nd quarter. UBS Group AG now owns 5,387 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 2,829 shares in the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.